What factors would affect brand extension acceptability?

What factors would affect brand extension acceptability?

The acceptability of consumers on brand extension has been tested by the variables: Perceived similarity, Brand reputation, Risk free perception, and Consumer Innovativeness based on the model developed by Chernatony (2003).

What makes a successful brand extension?

What is the recipe for a successful brand extension? Simply put, companies must expand their reach, demonstrate their value, and grow their business with products that capitalize on logic and leverage.

What factors need to be studied before brand extension?

7 Important Factors Influencing Decision for Extension of Brands

• Company Factor:
• Consumer Factor:
• Product Factors:
• Market Factors:
• Brand Associations:
• Channels and the Promotion of Factors:
• Competitive Environment:

What are the components of brand extensions?

A comprehensive literature review identifies six elements which are crucial to the success of brand extension. These elements are Parent Brand Image, Parent Brand Fit, Parent Brand Strength, Marketing Support, Quality of Parent Brand and Parent Brand Consumer Experience.

What are the types of brand extension?

Here’s a list of some of the top types of brand extensions:

• Product extension.
• Line extension.
• Customer franchise extension.
• Company expertise extension.
• Brand distinction extension.
• Transfer of component extension.
• Leveraging a lifestyle extension.

What is brand preference marketing?

Brand preference indicates the degree to which a consumer is inclined to use a particular brand’s product instead of a competitor’s and contributes significantly to brand equity. It is important for businesses to constantly measure and assess their brand preference as it reflects their marketing.

What is are the most important factors to establish a brand?

Target audience knowledge To be more exact, great brands understand who their potential customers are, how they think, what they need, and very importantly, where they spend their time at. In order to market your products and services well, your brand strategy should be strictly aimed towards your target audience only.

What are brand extension strategies?

Brand extension is a strategy where a company creates a new product category under its well-known brand name. It helps launch new products easily, obtain higher profit, reduce costs necessary to launch a new business, and meet customers’ needs and wants.

What is brand extension strategies?

What Is Brand Extension? A brand extension is when a company uses one of its established brand names on a new product or new product category. It’s sometimes known as brand stretching. The strategy behind a brand extension is to use the company’s already established brand equity to help it launch its newest product.

What are types of brand extension?

Basically, a brand extension is leveraging an existing brand to promote a product in a different category. There are various types of brand extension such as product form, companion product, expertise, customer franchise and brand image type.

What are two types of brand extensions?

Types of brand extension

• Product form.
• Companion product.
• Company expertise.
• Brand distinction.
• Brand prestige.
• Transfer of components.
• Leveraging a lifestyle.

What are suitable conditions for brand extension?

Make the brand extension a logical fit The new product must be a logical fit to the brand, compatible, expected and follow the current brand story. The link between the new product and the parent brand should be easily tracked. The biggest brand extension pitfalls fall into this category.